Have you heard of VPTAS? April 10, 2024 Georgia Muegel No, it’s not some new fancy accounting acronym.. it is a scheme offered by the Victorian Government to assist with travel costs associated with rural Victorians accessing specialist medical treatment. Let’s take a look at what it is. The VPTAS process in a nutshell is:– to be eligible you need to be a Victorian resident […] Read More
July 2024 Superannuation Changes March 27, 2024 Matt Richardson There are a number of changes happening on 1 July 2024 to various superannuation thresholds. Some of the important changes include the following: 1.Standard Concessional Contribution Cap – $30,000 (increase from $27,500). 2. Standard Non-Concessional Contribution (NCC) Cap – $120,000 (increase from $110,000). 3. Non-Concessional Bring Forward Caps – refer to table below: Total Super […] Read More
Land Tax March 13, 2024 Kathryn Hamilton What is land tax? Land tax is an annual tax based on the total taxable value of all the land you own in Victoria, excluding exempt land such as your home (principal place of residence). Land tax is calculated using the site values (determined by the Valuer-General Victoria) of all taxable land you owned as […] Read More
The Rule of Three March 6, 2024 David Hadley Looking back through blogs I have written in the past and recently being reminded of the rule of three I thought it appropriate to revisit this view. I recall reading two articles in relation to how to perform better in business. Both these articles listed 7 techniques/attitudes each to assist you in performing better in […] Read More
Understanding Non-Commercial Losses February 28, 2024 Jessie Lakin What are non-commercial losses? A non-commercial business loss is a loss you incur, either as a sole trader or in partnership, from a business activity that isn’t related to your primary source of income. Think hobbies, side businesses, or personal ventures. In Australia, the ATO has specific rules and criteria to determine if an activity qualifies […] Read More
Top Tax-Saving Tips for Australians: Maximising Returns and Minimising Liabilities February 21, 2024 Tilak Khatri As Australians, navigating the complex terrain of tax obligations can often feel daunting, but with strategic planning and informed decision-making, you can optimize your financial situation while staying compliant with tax laws. Here are some expert tips to help you save on taxes and make the most of your hard-earned money: 1. Claim Deductions: One […] Read More
What is a Self-Managed Superannuation Fund? February 14, 2024 Kayla Hawker A self-managed super fund (SMSF) is a superannuation fund that you manage yourself. SMSFs are different to industry and retail super funds. When you manage your own super, you put the money you would normally put in a retail or industry super fund into your own SMSF. You make the investment decisions for the fund, and […] Read More
What are ‘Offset’ accounts? February 7, 2024 Kathryn Hamilton An offset account is a transaction account linked to your home or investment loan. You can make deposits or withdraw from it as you would with a regular transaction account. With a standard home loan, you pay interest on the total amount owing. But with an offset, interest is charged on the difference between your […] Read More
5 Life Lessons for Business Success January 31, 2024 David Hadley I have always believed that the principles that you apply in one activity can be applied in another. This certainly can be the case with sport and business. I read a blog (HybridBizAdvisors) that states that sport has a way of teaching us valuable life lessons. As we grow up participating in sporting activities as […] Read More
6 Tips to developing an investing plan January 24, 2024 Karen Grainger Planning is always a good key to have for successful investing. Creating a plan will help you find investments that fit your investing time frame and risk tolerance, to help you reach your financial goals sooner. This article from Moneysmart sets out 6 steps to get ready for investing. https://moneysmart.gov.au/how-to-invest/develop-an-investing-plan
